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With the crypto market currently braced for a potential $20 trillion black swan event following the recent price booms of Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon, and Solana, it is imperative to analyze the similarities and differences between various crypto companies and services in the same industry. This article aims to conduct a comparative analysis of three of the most popular cryptocurrencies, namely Cardano, Bitcoin, and Ethereum, and their impact in the face of the crypto markets printing trillions. Additionally, the article will explore how newcomer Dogetti can learn from the success of older coins.

Dogetti is a nascent crypto project with its own coin (DETI), NFT collection, and DAO. DETI is currently in the presale stage, and it has recently surpassed its first milestone and is already a third-of-the-way to its way to its 4M USD goal. Dogetti is a memecoin featuring a family of mafia-themed dogs as its mascot, which is an apt choice considering Dogettis focus on sharing wealth and communal closeness. Out of every transaction conducted on the platform, 2% will go to a charity wallet, 2% will be redistributed to the community, and 2% will be split between the liquidity and burn wallets to ensure the long-term stability of the token.

Cardano, created in 2017 by Charles Hoskinson, is a decentralized blockchain platform that uses proof of stake (PoS) to validate transactions. PoS allows users to mine or validate block transactions based on the number of coins held by the miner. Cardanos unique feature is its ability to run smart contracts, making it ideal for building decentralized applications (dApps). Furthermore, Cardanos blockchain has a multi-layer architecture, allowing for better scalability and interoperability with other blockchains.

Bitcoin, created in 2009 by an unknown person or group under the pseudonym Satoshi Nakamoto, is a decentralized digital currency that operates independently of central banks. Bitcoin transactions are recorded on a public ledger called the blockchain, and it uses a proof-of-work (PoW) consensus algorithm to validate transactions. Unlike traditional currencies, Bitcoins supply is limited to 21 million coins, making it a scarce asset. Bitcoins primary use case is as a store of value, although it can also be used for transactions.

Ethereum, created in 2014 by Vitalik Buterin, is a decentralized blockchain platform that uses a PoW consensus algorithm to validate transactions. Like Cardano, Ethereum allows users to create and run smart contracts and decentralized applications (dApps). However, Ethereums blockchain has a single-layer architecture, which has caused scalability issues, resulting in high fees and slow transaction times.

This is the best time to be investing in crypto as it continues to rise and garner success. But with the high cost of entry for established currencies such as the abovementioned, new investors are advised to start with a promising yet unreleased coin that has the potential to explode in popularity, such as Dogetti. Thanks to its strong emphasis on community and creating generational wealth for all its holders, it is the perfect starting point for the young and the new.

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In a blog published yesterday May 1st, 2023, by the Stellar Development Foundation (SDF), the platform announced that Soroban, a Stellar program for smart contracts, has been running several initiatives to promote and implement Soroban. Under the new smart contract platform, exciting initiatives, tools, and learning materials have emerged as a result of the efforts.

SDF has also said that more creators are experimenting with Soroban as the community develops on Futurenet, the open-source Soroban testnet. Here are the four ecosystem projects from the Stellar Community Fund (SCF) that demonstrate the potential of Soroban through distinctive and cutting-edge use cases. These projects include Qolaq, Comet, FxDAO, and XycLoans. Presently, SDFs estimated yearly income is $33.5 million, and with the rolling out of these projects, Soroban has a high ability to change the dynamics of the market.

Qolaq is a model mutual aid program that provides a Web3-enabled platform for users to help one another in difficult situations, like illness or unanticipated medical expenses, especially for those without access to conventional insurance.

According to SDF, with the integration of Sorobans Futurenet, Qolaq is creating a distributed system leveraging smart contracts to eliminate the high operations costs. Moreover, they aim to provide their clients with quick and transparent services compared to conventional insurance companies. Qolaq plans to employ Stellars existing rails to offer fiat on/off ramps for settlements.

Another project on board is Comet, a balanced automated market maker protocol by Balancer implemented on the Soroban Futurenet. This projects goal is to make it possible for developers and consumers to look into lowering temporary loss and to give answers to problems in decentralized finance.

FxDAo is a decentralized lending mechanism that uses smart contracts on Soroban to issue currencies-pegged tokens supported by other virtual currencies. The fourth project is the XycLoans Futurenet prototype, which intends to serve as an example of how a decentralized market for flash loans works.

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Soroboan is a smart contracts platform that was created with a specific goal in mind. In terms of size and connectivity to the financial rails via Stellar, Soroban gives a developers experience that comes with batteries.

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Earlier this year, the Stellar Development Foundation issued a $10 million prize program focusing on Soroban. This was done through its Stellar Community Fund (SCF). The SCF was set to support creators as they explore Soroban. In addition, more than four hundred projects linked to Stellar have benefited from the SCF In the last five years.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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In the rapidly evolving landscape of blockchain technology, VeChain is looking to be making Positive progress with its ambitious mission to drive the widespread adoption of decentralized solutions. One particular area where VeChain looks to be making a significant impact is the Metaverse.

With its superior technology and innovative features, VeChain is poised to conquer the Metaverse and emerge as a dominant force in this futuristic market.

VeChain (VET) seeks to revolutionize supply chain management and optimize business operations. The platform operates on a dual-token system, with VET serving as the primary cryptocurrency for storing and transferring value, and VeThor (VTHO) as the secondary token used for executing smart contracts and conducting transactions.

With VeChains multiverse feature, developers can create custom applications tailored to specific industries and use cases. By establishing sub-chains within the VeChainThor ecosystem, businesses can leverage a versatile blockchain platform that precisely caters to their unique requirements.

This flexibility positions VeChain as an ideal choice for organizations seeking tailored solutions in an increasingly interconnected world.

One of VeChains standout features is its proprietary chip technology, which enables the tracking and verification of physical goods on the blockchain. This functionality ensures the authenticity and traceability of products, making it particularly valuable in industries that demand transparency and trust, such as luxury goods and food safety.

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The Metaverse represents a virtual universe where individuals can interact, transact, and immerse themselves in various digital experiences. As this concept gains momentum, it presents a set of distinctive challenges that demand sophisticated technological solutions. VeChain recognizes these challenges and strives to offer innovative measures to address them effectively.

However, VeChains cutting-edge blockchain technology can play a pivotal role in establishing a secure, trustworthy, and reliable framework for the Metaverse. By leveraging its core strengths, VeChain aims to provide solutions that address key aspects of the Metaverse ecosystem:

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VeChains comprehensive approach to addressing the unique challenges of the Metaverse sets it apart from its competitors. With its strong focus on supply chain management, trust-building, and seamless integration of blockchain technology, VeChain exhibits distinct advantages that position it as a leader

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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With the advent of readily available artificial intelligence (AI) applications such as ChatGPT, we are ushering in a new era of rapid improvements in blockchain-based smart contracts. This convergence of innovative technologies will transform industries and pave the way for unprecedented levels of contract development, automation and efficiency.

Blockchains decentralized ledger technology powering cryptocurrencies like Bitcoin and Ethereum has gained widespread attention for its unparalleled ability to promote transparency and trust among network participants. Simultaneously, AI has made incredible strides in natural language processing (NLP), machine learning (ML) and data analysis. When these two titans collide, they hold the potential to radically change smart contract execution and enhance blockchain network functionality.

By nature, blockchain networks are decentralized, ensuring no single point of control or failure. While decentralization bolsters security, it also presents many scalability and efficiency challenges. Enter AI ready to optimize data processing and storage on the blockchain. One notable limitation of blockchain technology is its sluggish transaction speed compared to traditional payment systems. AI algorithms can come to the rescue by predicting and prioritizing transaction processing, enabling faster confirmation times and a seamless user experience. Additionally, these intelligent systems can detect network congestion patterns, empowering the blockchain to adapt dynamically and maintain peak performance.

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AI doesnt stop there. It can also bolster blockchain network integrity by detecting and preventing fraudulent activities. Machine learning (ML) algorithms analyze transaction data to identify suspicious behavior and flag potentially malicious actors. This proactive security approach can not only deter bad actors but can also strengthen the networks trustworthiness.

Despite the name, smart contracts arent really contracts. They are self-executing agreements encoded on a blockchain with their terms directly inscribed in code that will automatically execute when predetermined conditions are met. They offer transparent, tamperproof and, most importantly, cost-effective alternatives to traditional contracts. Unfortunately, smart contracts, rigid by design, can struggle to process complex transactions and dont easily adapt to evolving circumstances. This is where AI can step in to enhance smart contract execution and functionality.

Since smart contracts are written in code, they can be rigid and inflexible by design. AI has the potential to dynamically adjust smart contracts, allowing them to adapt to shifting conditions and assimilate new information as it arises. For instance, a machine learning algorithm could update contract terms based on real-time market conditions or asset performance. By integrating AI, smart contracts become more intelligent and responsive, facilitating intricate and context-aware agreements that cater to the involved parties needs.

Disputes in smart contracts can stem from misinterpretations, errors or disagreements between parties. AI has the potential to greatly improve the dispute resolution process as it should be able to evaluate and interpret smart contract terms and independently evaluate and potentially resolve issues before contract execution.

AI can vastly enhance the decision-making process for smart contracts. By tapping into predictive analytics, AI can scrutinize vast datasets, identifying trends, patterns and potential risks that could affect a contracts outcome. This sophisticated analysis can deliver invaluable insights that inform smart contract negotiation and drafting, tailoring them to the parties specific needs and goals. Using a data-centric approach, we can minimize risk and reduce uncertainty, leading to more informed decision-making.

The confluence of AI and blockchain technology is paving the way for more intelligent, secure and streamlined smart contract ecosystems. With an unprecedented potential when combining AI and blockchain, its going to be interesting to see the developments from both spaces as they look to strengthen each other and improve the experience of the users they serve.

Brad Spannbauer is the founder ofCurrency Hub, a blockchain and crypto company. His career includes time in the healthcare data sector.

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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The European Crypto initiative (EUCI) took to Twitter recently to note the importance of the Data Act, which is intended to increase the amount of data available for usage, while also creating rules on who can access and utilize what data for what purposes across all economic sectors in the EU.

According to tweets from the EUCI the Data Act is significant in the regulation of Smart Contracts and making sure that the ecosystem thrives.

The EUCI is reiterating its commitment towards advocacy for policies designed to fuel innovation and in the Web3 landscape. To this effect, it has outlined some of its concerns on the legal clarity and the scope of the Data Act. Notably, IOTA, a leading open-source, scalable and feeless blockchain was invited to contribute to the position paper.

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Due to the fact that the Data Act offers a large benefit for the data-driven information, Article 30 of the Data Act might pose issues for the blockchain industry. Although that section of the article states the legal necessities for Smart Contracts in the context of data sharing, and the phrasing appeals to the Web3 and Blockchain community, the EUCI insists that it is very likely that Distributed Ledger Technology (DLT) and crypto might be affected by the Data Acts application, despite the section incorporating the most fundamental components of DLT.

Although the three proposals for the Data Act text, made by the EU co-legislators, differ significantly in some parts, all three versions can be seen as a cause of concern. For example, both the European Commissions and the Councils versions have a definition of a smart contract, which, if adopted, might influence the interpretation and application of other EU regulations. EUCI wrote.

The EUCI went on to explain that no direct consensus exists around the term smart contracts, despite the term gaining attention for its potential use cases. The term is a niche term that particularly refers to the code that utilizes DLT to carry out orders.

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We are concerned that the current scope and wording of the Data Act may inadvertently encompass smart contracts based on DLT, which by their inherent nature and design, may prove difficult or even impossible to comply with certain requirements proposed in the Data Act and may hinder the development of this novel technology, which the Union seeks to support. The EUCI added.

Conclusively, the EUCI, in its Data Act Position paper asked co-legislators to consider negative ways in which smart contract regulation without distinctions is harmful. The position proposed recommendations centering adoption of terminology and replacement of certain terms, as well as clear distinctions between the various types of Smart Contracts.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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